Im looking at buying a house yet my credit isnt that great?

Question

I dont have any credit cards and in the past i had one maxed it out yet paid it off after about 6 months full, now i am looking to buy a house with 0 down and wondering what the credit score rating are to be accepted for a morgage. Ive checked at equifax and i only was able to get the report yet i have nothing serious in there other then that it took me a few months to pay my old credit card off... would it be possible to get a house 2 years later? I have a good paying steady job.... some one help

Answer 1

You're going to need your credit score, which is available when you buy your credit report online.

Truthfully however, if you have no credit and the only entry on your credit report is an old credit card with some late payments (did I understand that part correctly?) then you're not going to do well in any credit scoring model.

Your best bet is to speak with a reputable mortgage broker who can recommend the best course of action based on your credit score.

The mortgage broker may recommend delaying your home purchasing plans a few months so you can build up a downpayment, and acquiring a secured credit card so you can build up a new credit history.

A lot of these things are going to depend on your specific situation.

Answer 2

You need to start to get some credit cards and It doesn't matter how Long you wait but you still need to get couple of credit cards.

If you have no credit then you go here to get a prepaid Visa card

https://www.accountnowvisa.com/secure/Si...

They are a big company

If you have a little credit or you are a student then

https://www.discovercard.com/cardmembers...

You need to strat from some where to bring your credit up.

Good Luck and send me your email if you have any other questions.